Обвинения в инсайдерской торговле: основатель Plasma отвечает на критику после падения цены XPL Headline: Insider Trading Allegations: Plasma Founder Responds to Criticism Following XPL Price Drop

The founder of the Plasma stablecoin project, Paul Fex, has dismissed allegations of insider trading following a more than 40% drop in the price of XPL. Some community members continue to express skepticism regarding his explanations.

«No team member sold XPL. All their assets and investors’ coins are locked for three years with an annual vesting schedule,» he stated.

Plasma launched the beta version of its mainnet and native token on September 25. XPL started at $1.30 and, just three days later, reached an all-time high of $1.68. Since then, its price has fallen by 41.8%, according to CoinGecko.

At the time of writing, the asset is trading at $0.90.

The community has raised suspicions about Plasma representatives employing algorithmic sales through the Time-Weighted Average Price (TWAP) method, where large orders are broken into smaller parts. A user under the alias ManaMoon pointed out the transfer of over 600 million XPL from the team wallet to exchanges ahead of the launch.

«I personally believe someone conducted TWAP sales with excessive coin volume that retail buyers could not handle,» he wrote.

A community member under the alias crypto — popseye also blamed the XPL price crash on the market maker Wintermute.

«Plasma has destroyed its schedule and momentum, so I hope their project fails,» he stated.

Fex denied any connection between the project and the platform, emphasizing that he shares the same information as other users.

«We did not hire Wintermute as a market maker and never had any contracts for their services,» he underscored.

The community responded cynically to the words of the Plasma founder. Crypto — popseye pointed out that while Fex excluded team sales, he left unclear the status of other token categories, such as those allocated for «ecosystem and its growth.»

«It’s clear to everyone that they were realized, but you framed your tweet as though this didn’t happen. Stop lying, Polly; you can’t deceive on-chain,» he wrote.

User Melardev agreed, noting that there are more coins on exchanges than were sold in the presale:

«Of course, the team sold nothing—since their tokens are locked up—but ecosystem coins were definitely dumped onto the market. For the sake of transparency, disclose how you used the 800 million XPL.»

In his post, Fex emphasized that the Plasma team is «focused on creating the monetary system of the future» and would not provide any further comments.

It is worth noting that in September, the stablecoin project announced the launch of the Plasma One neobank with an annual yield of over 10%.